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Listed by Jennifer Chester • Crown Realty
$ 225,000
Est. payment /mo
New
101 E Madison AVE Iola, KS 66749
5,760 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2651477
Year Built 1914
Annual Tax Amount $4,407
Lot Size 5,760 Sqft
Acres 0.1322314
Lot Dimensions 40x120
Property Sub-Type Business
Source hmls
Property Description
Prime Investment Opportunity: Mixed-Use Potential in the Heart of Iola
Unlock the potential of this substantial 12,000+ sq. ft. brick landmark, perfectly positioned on a major thoroughfare just steps from the historic town square in Iola, Kansas. Ideally located in a thriving region, this property offers a strategic midpoint: just 1.5 hours south of Kansas City, and only two hours from both Wichita and Tulsa.
This property offers the rare combination of immediate cash flow, significant value-add upside, and a position within an upcoming community that is actively growing, highlighted by exciting new local projects and developments.
Property Highlights:
Total Versatility: 12,000+ sq. ft. of total space, split evenly across two levels.
Proven Retail Location: The 6,000+ sq. ft. main level is currently occupied, generating steady commercial income. Benefit from high visibility and constant exposure with over 8,000 vehicles passing daily.
Value-Add Potential: The 6,000+ sq. ft. second level is a blank canvas ready for redevelopment. With the layout already primed for multifamily living, this is an incredible opportunity to finish out apartments and maximize your return on investment.
Recent Capital Improvements: Purchase with peace of mind knowing the heavy lifting is done. The building features a brand-new roof and a stunning, modernized facelift on the front exterior that enhances curb appeal and structural integrity.
Whether you are looking to secure a stable income stream from the existing retail tenants or capitalize on the growing demand for downtown housing in Iola, this building is positioned for success.
Don't miss out on one of Iola's most visible and versatile commercial properties. Contact us today to schedule your private tour and see the potential for yourself!
Unlock the potential of this substantial 12,000+ sq. ft. brick landmark, perfectly positioned on a major thoroughfare just steps from the historic town square in Iola, Kansas. Ideally located in a thriving region, this property offers a strategic midpoint: just 1.5 hours south of Kansas City, and only two hours from both Wichita and Tulsa.
This property offers the rare combination of immediate cash flow, significant value-add upside, and a position within an upcoming community that is actively growing, highlighted by exciting new local projects and developments.
Property Highlights:
Total Versatility: 12,000+ sq. ft. of total space, split evenly across two levels.
Proven Retail Location: The 6,000+ sq. ft. main level is currently occupied, generating steady commercial income. Benefit from high visibility and constant exposure with over 8,000 vehicles passing daily.
Value-Add Potential: The 6,000+ sq. ft. second level is a blank canvas ready for redevelopment. With the layout already primed for multifamily living, this is an incredible opportunity to finish out apartments and maximize your return on investment.
Recent Capital Improvements: Purchase with peace of mind knowing the heavy lifting is done. The building features a brand-new roof and a stunning, modernized facelift on the front exterior that enhances curb appeal and structural integrity.
Whether you are looking to secure a stable income stream from the existing retail tenants or capitalize on the growing demand for downtown housing in Iola, this building is positioned for success.
Don't miss out on one of Iola's most visible and versatile commercial properties. Contact us today to schedule your private tour and see the potential for yourself!
Location
State KS
County Allen
Zoning COM
Interior
Interior Features Storage, In-Law Floorplan, Private Restroom, Public Restroom
Fireplace N
Exterior
Exterior Feature Building Sign, Delivery Door(s), Display Window
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Story 2
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://listings.kchomephotography.com/sites/rmgqlwjv/unbranded
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